In this week’s podcast, Aaron discusses the Australian Taxation Office’s (ATO) change in view in calculating exempt current pension income (ECPI) from 1 July 2017, in particular where a SMSF’s assets are segregated for part of an income year. He explains the implications for practitioners of the ATO’s revised approach in calculating the earnings tax exemption,…
In this week’s podcast, Aaron discusses the importance of appropriately establishing and maintaining SMSF income streams as a result of the new superannuation measures from 1 July 2017. He explains some of the key risks with poorly constructed pension documents, including where professionals rely upon SMSF software generated documents that don’t tie into the governing rules…
The SMSF Academy was an event partner at the recent BGL RegTech17 events around Australia and provided the opportunity to demonstrate our Campus platform. Of particular interest to attendees was the 15 minute demonstration session on how to build compliant SMSF pension documents, where Aaron discussed the increased importance of this topic post super reforms. You…
The ATO has published a position paper for industry consultation to consider two options in respect to a SMSFs reporting obligations for events that impact a member’s transfer balance account.
In a recent Australian Taxation Office (ATO) SMSF New Measures Consultation Forum (held on 28 March 2017), the ATO indicated that ‘events’ based reporting will be required for the following transfer balance cap events: When a SMSF complies with a commutation issued by the Commissioner; When there is a full commutation of a member SMSF…
